Brazilian producers are negotiating HRC exports with their South American clients in a reference price of $1,200/mt, against $1,050/mt two weeks ago, FOB conditions for the basic commercial grades.
In February, Brazil exported 178,000 mt of HRC, while importing 3,400 mt of the product, against 113,600 mt and 12,800 mt, respectively, in January.
The main destinations of the exports in February were South America (57,300 mt at $886/mt), Europe (51,600 mt at $800/mt), Asia (28,200 mt at $739/mt) and Africa (23,400 mt at $661/mt), while the exporters were ArcelorMittal (151,200 mt) and Usiminas (25,500 mt), with small volumes exported by CSN and by traders, all FOB conditions.
The origins of the imports were Asia (3,000 mt at $945/mt) and Europe (400 mt at $1,547/mt), also FOB conditions.
The Brazilian domestic HRC market currently faces a period of uncertainties, due to a wide variation of prices of steel products ultimately derived from Russia’s invasion of Ukraine.
A trader in the northeastern region told SteelOrbis that after announcements by Usiminas and CSN of increases in the 20 percent range, he has received an offer of domestic HRC at BRL 8,340/mt ($1,629/mt), CFR conditions, full taxes except IPI conditions.
USD = BRL 5.16 (March 16)
